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Sun Life Financial's Preferred Shares Series 2 Cross 5% Yield Mark

In trading on Wednesday, shares of Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2 (TSX: SLF-PRB. O) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.20), with shares changing hands as low as $23.90 on the day.

In trading on Wednesday, shares of Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2 (TSX: SLF-PRB.TO) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.20), with shares changing hands as low as $23.90 on the day. As of last close, SLF.PRB was trading at a 3.44% discount to its liquidation preference amount. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one year performance of SLF.PRB shares, versus SLF:

Below is a dividend history chart for SLF.PRB, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2:

In Wednesday trading, Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2 (TSX: SLF-PRB.TO) is currently off about 0.9% on the day, while the common shares (TSX: SLF.TO) are off about 0.4%.

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